Asana, Inc. (NYSE:ASAN) Given Average Recommendation of “Hold” by Analysts

Shares of Asana, Inc. (NYSE:ASAN) have been given a consensus rating of “Hold” by the seventeen ratings firms that are covering the company, MarketBeat Ratings reports. Four analysts have rated the stock with a sell rating, seven have given a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $12.4643.

ASAN has been the topic of several research reports. Wall Street Zen upgraded shares of Asana from a “hold” rating to a “buy” rating in a research note on Sunday, January 11th. Jefferies Financial Group dropped their price target on shares of Asana from $15.00 to $8.00 and set a “hold” rating on the stock in a research note on Monday, February 23rd. BTIG Research initiated coverage on shares of Asana in a research note on Tuesday, December 16th. They issued a “neutral” rating on the stock. Citigroup dropped their price target on shares of Asana from $16.00 to $13.00 and set a “buy” rating on the stock in a research note on Tuesday, March 3rd. Finally, KeyCorp dropped their price target on shares of Asana from $18.00 to $15.00 and set an “overweight” rating on the stock in a research note on Tuesday, March 3rd.

Insider Buying and Selling at Asana

In other Asana news, insider Katie Marie Colendich sold 7,304 shares of the firm’s stock in a transaction that occurred on Tuesday, March 10th. The shares were sold at an average price of $7.42, for a total value of $54,195.68. Following the sale, the insider owned 108,214 shares in the company, valued at approximately $802,947.88. This trade represents a 6.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Sonalee Elizabeth Parekh sold 18,717 shares of the firm’s stock in a transaction that occurred on Monday, March 23rd. The shares were sold at an average price of $6.62, for a total transaction of $123,906.54. Following the completion of the sale, the chief financial officer owned 915,281 shares in the company, valued at $6,059,160.22. The trade was a 2.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 70,226 shares of company stock worth $472,065. 61.28% of the stock is owned by company insiders.

Institutional Investors Weigh In On Asana

Several large investors have recently made changes to their positions in the company. Invesco Ltd. increased its stake in shares of Asana by 18.3% in the fourth quarter. Invesco Ltd. now owns 106,753 shares of the company’s stock valued at $1,464,000 after purchasing an additional 16,500 shares during the period. Mercer Global Advisors Inc. ADV acquired a new position in shares of Asana during the fourth quarter valued at approximately $211,000. XTX Topco Ltd increased its stake in shares of Asana by 213.4% during the fourth quarter. XTX Topco Ltd now owns 235,451 shares of the company’s stock valued at $3,228,000 after acquiring an additional 160,329 shares during the period. Susquehanna Fundamental Investments LLC increased its stake in shares of Asana by 663.4% during the fourth quarter. Susquehanna Fundamental Investments LLC now owns 109,178 shares of the company’s stock valued at $1,497,000 after acquiring an additional 94,876 shares during the period. Finally, Occudo Quantitative Strategies LP increased its stake in shares of Asana by 76.1% during the fourth quarter. Occudo Quantitative Strategies LP now owns 156,282 shares of the company’s stock valued at $2,143,000 after acquiring an additional 67,560 shares during the period. Institutional investors and hedge funds own 26.21% of the company’s stock.

Asana Stock Down 2.4%

ASAN opened at $6.22 on Tuesday. The firm has a market cap of $1.48 billion, a price-to-earnings ratio of -7.77 and a beta of 1.08. Asana has a fifty-two week low of $5.87 and a fifty-two week high of $19.00. The company’s 50-day moving average price is $7.54 and its 200 day moving average price is $11.35.

Asana (NYSE:ASAN) last released its quarterly earnings data on Monday, March 2nd. The company reported $0.08 earnings per share for the quarter, topping the consensus estimate of $0.07 by $0.01. The firm had revenue of $205.57 million for the quarter, compared to analyst estimates of $205.13 million. Asana had a negative net margin of 23.90% and a negative return on equity of 77.05%. The company’s revenue for the quarter was up 9.2% on a year-over-year basis. Research analysts anticipate that Asana will post -1.09 earnings per share for the current year.

Asana Company Profile

Asana, Inc (NYSE: ASAN) is a leading provider of work management and collaboration software designed to help teams organize, track and manage their work. Founded in 2008 by Dustin Moskovitz and Justin Rosenstein, Asana’s platform enables users to create projects, assign tasks, set deadlines and visualize progress across diverse workflows. The company’s cloud-based solution includes customizable project templates, timeline views, boards and automated rules that streamline routine processes and reduce manual effort.

Built for both small teams and large enterprises, Asana supports integrations with a wide array of third-party applications, including communication tools, file-sharing services and DevOps platforms.